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MICR Full Form is Magnetic Ink Character Recognition
MICR meaning is Magnetic Ink Character Recognition. It is the ink technology that is used for the identification of cheques for the specified branch of any bank. MICR code is a code printed on cheques by using the MICR technology. This enables the identification of any cheques and processes that cheque in the fastest way. MICR code is placed after the cheque number. This code format is a 9-digit code that uniquely identifies the city, bank, and branch participating in an Electronic Clearing System. MICR code consists of 3 parts and each part consists of 3 digits. 1st part consists of City, 2nd part consists of Bank Code, and 3rd part consists of the Branch Code.
The device that is used for reading this code is called MICR reader or MICR Scanner. When a digit emits the wave this scanner reads that wave. There are various queries asked on the internet regarding the MICR stands for. In this regard, some of the questions asked on the Internet are given below:
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